Square vendor taking no chances
Looks like the liquidator selling Dartmouth Square in Dublin 6 at next week’s Allsop/Space auction is taking no chances. Time-wasters need not apply as interested buyers must register and clear a deposit amounting to 10 per cent of the €140,000 reserve price in order to receive a bidding paddle.
This is the only property carrying such a restriction among the 107 lots due to go under the hammer at Dublin’s Shelbourne Hotel on Tuesday. It’s understood Dublin City Council plans to bid for the residential square, which was owned by Athlone businessman Noel O’Gara, who frustrated residents after he bought the park for about €10,000 in 2005 and attempted to run a tile showroom and car park on the site. On Tuesday the successful bidder will have had to register in advance and show they have at least €14,000 ready to clear.
According to Robert Hoban of Allsop/Space, overseas investors are showing increased interest in snapping up rental properties in key urban locations, as many UK investors seek to avail of the capital gains tax holiday available to them.